Executive Pay

[NeMont]

Curious how the government can control executive pay? I don't see how our government can set the salary and compensation for anyone that has negotiated a deal with their board of directors.

I know that it seems CEO compensation is out of whack but having the Government impose that upon them is a pretty slipperly slope.

Take Wells-Fargo, they were forced to take the bailout money, they didn't want but were told they don't have a choice because they are chartered by the Federal Government. Now not only is Obama setting compensation but hard working low level workers who have worked all year to qualify for an incentive trip aren't getting to go because the government forced Wells-Fargo to accept money it didn't want.

Seems pretty stupid to me.

Nemont

 

[202typical]

Yes it is stupid. Not only that it is sending straight down the road to the French system of socialism. It is friggin ridiculous.
What will happen if this crap is imposed is these guys will leave the US banking system and go to work in other countries where they can make what they are worth to run a bank. Then we will be left with the folks to run these banks that.............well are not un like government employees...........undesirable blood sucking leaches, who could give a crap whether tha bank makes money or fails as long as they keep getting that paycheck every week.

 

[NeMont]

I bet if there was just one case brought against a board of directors for malfeasance and dereliction of their fiduciary responsibility in what they agree to pay CEO's we would see a huge correction.

I wonder how many senators and congressman are still riding on corporate jets and using taxpayer jets to travel around. If it is okay to cap CEO pay then it should be okay to cap former Politician's speaking fees.

This is horrible policy, great politics but horrible policy.

Nemont

 

[manny15]

i think it not right, but a cap is a good idea, 1/2 mil nah

 

[D13er]

>i think it not right, but
>a cap is a good
>idea, 1/2 mil nah

WTF ????



great post/pic, thanks for sharing

JB

 

[NeMont]

I really don't have a huge problem with a cap placed on those companies that came to the government asking to be bailed out. I have some problems though with companies like Wells Fargo that were forced to take bail out funds and now have to comply with all this stupidity.

If corporate CEO need a cap then a cap should be put on the number of trips Air Force One can fly, absolutely no private jet travel for Congressman and Senators. They all take federal funds and should be held to the same standards as the CEO's.

Nemont

 

[TFinalshot]

The new rule is not retroactive. . .

I'm not in favor of the new rule. I think the people of this country should vote with their business. We need to do a better job of exposing which bank received the money and how they used it, then let the people decide. I know I wont take my business to any of the banks that wont control their spending. . .

I'll keep my money in my local banks, even if it means I dont make the same returns or i have to search harder for an ATM or pay more fees. I say dump the big banks and send them the correct message from the market. . .

 

[NeMont]

My point is that all federal money comes with strings attached. If these big banks came with their hands out then they should have to accept the rules.


I happen to agree with everything else you posted. I do business with the same guys who I have for years and they have bent over backwards to keep my business.

Nemont